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AIS Exam 1 Ch. 1, 2 and 16 Questions and Answers R221,61   Add to cart
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AIS Exam 1 Ch. 1, 2 and 16 Questions and Answers
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AIS Exam 1 Ch. 1, 2 and 16 Questions and Answers Which of the following statements below shows the contrast between data and information? a. Information is the primary output of an accounting information system. b. Data is more useful in decision making than information. c. Data is the primar...

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  • August 4, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ais exam 1 ch 1 2 and 16 questions and answers
  • which of the following statements below shows the
  • when a subsystems goals are inconsistent with the
  • the value of information can best be determined by

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  • Ais

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AIS Exam 1 Ch. 1, 2 and 16 Questions and
Answers
Which of the following statements below shows the contrast between data and
information?

a. Information is the primary output of an accounting information system.
b. Data is more useful in decision making than information.
c. Data is the primary output of an accounting information system.
d. Data and information are the same. - answer a. Information is the primary output
of an accounting information system.

When a subsystem's goals are inconsistent with the goals of another subsystem or with
the system as a whole, it creates

a. system conflict.
b. goal conflict.
c. system inconsistence.
d. goal inconsistence. - answer b. goal conflict.

The value of information can best be determined by

a. the benefits associated with obtaining the information minus the cost of producing it.
b. the extent to which it optimizes the value chain.
c. its usefulness to decision makers.
d. its relevance to decision makers. - answer a. the benefits associated with
obtaining the information minus the cost of producing it.

________ information reduces uncertainty, improves decision makers' ability to make
predictions, or confirms expectations.

a. Timely
b. Complete
c. Reliable
d. Relevant - answer d. Relevant

Information is ________ when two knowledgeable people independently produce the
same information.

a. verifiable
b. reliable
c. complete
d. relevant - answer a. verifiable

,Inventory information for Sun Corp. is provided in real time by a firm's accounting
information system. However, the accuracy of this information is questionable. Many
store managers often report stock outs of components that the system indicates are in
stock. Which of the following characteristics of useful information is absent in the
situation described above?

a. complete
b. reliable
c. timely
d. relevant
e. accessible
f. understandable
g. verifiable - answer b. reliable

A frantic Barney Rubble lost a large sale because he could not access the system to
verify the inventory was in stock and ready to be shipped. Which of the following
characteristics of useful information is absent in the situation described above?

a. verifiable
b. reliable
c. timely
d. accessible
e. complete
f. relevant
g. understandable - answer d. accessible

Before a firm can identify the information needed to effectively manage a process, the
firm must

a. understand the process.
b. obtain internet access.
c. hire an outside consultant.
d. purchase computers and/or workstations. - answer a. understand the process.

One group that relies on both the adequate collection and transformation of data for
decision-making purposes for an organization is

a. management.
b. the government.
c. interested outsiders.
d. competitors. - answer a. management.

In which transaction cycle would customer sales transaction information be most likely
to pass between internal and external accounting information systems?

, a. the financing cycle
b. the human resources / payroll cycle
c. the revenue cycle
d. the expenditure cycle - answer c. the revenue cycle

Receiving goods from vendors is part of which cycle?

a. the expenditure cycle
b. the revenue cycle
c. the payroll cycle
d. the financing cycle - answer a. the expenditure cycle

Who of the following would not be involved in the expenditure cycle?

a. Cashier.
b. Requisition manager.
c. Receiving clerk.
d. Accounts payable clerk. - answer a. Cashier.

An accounting information system must be able to perform which of the following tasks?

a. collect transaction data
b. provide adequate controls
c. process transaction data
d. All of these - answer d. All of these

The primary objective of accounting is to

a. implement strong internal controls
b. prepare financial statements.
c. provide useful information to decision makers.
d. ensure the profitability of an organization. - answer c. provide useful information to
decision makers.

The AIS must include controls to ensure

a. information produced from data is accurate.
b. both safety and availability of data and information produced from data is accurate
c. marketing initiatives match corporate goals.
d. safety and availability of data. - answer b. both safety and availability of data and
information produced from data is accurate

An AIS provides value by

a. providing timely and reliable information to decision makers.

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